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How Time Tracking Is Good For Your Business


Time Tracking
How Time Tracking Is Good For Your Business

This post was most recently updated on March 14th, 2022

Due to the covid-19 pandemic, most of the organizations allowed their workers to work from home. While there are many benefits of working from home, there are also some disadvantages, such as employees violating this opportunity to work from home and not doing enough work in the allotted time. The issue of time management can be solved by time tracking your employee’s progress. 

Time Tracking

Time tracking, in simpler terms, is the tracking of the working hours of the employees by the employer to assess their work and to compensate them accordingly. Not only are they used for salaries, but they are also a good way to measure where your employee is spending their time and how much a certain task takes hours of their days.  job timesheet template.

The most time-consuming activities aren’t always the ones that take the greatest effort or provide the most benefit. Far too often, the opposite is true. Project time tracking is a management technique that maintains track of the overall amount of time spent on each particular activity throughout the project. There are several benefits of time tracking, and some of the best ones are discussed below:

Increased Transparency

Time tracking your employee makes your business more transparent by allowing you to have an insight into how certain long work takes time to complete. The advantage of time tracking is that it allows you to stay on top of the working process and helps you in understanding how to prioritize your work. Employees shall benefit from time tracking technologies because they will be able to have a clear picture. They can review their responsibilities and improve productivity when necessary, all while keeping an eye on what other employees are up to.

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Increased Accountability

By tracking your employees’ time, you can make them self-aware and hold them accountable for their progress. Managers can use time tracking tools to track how long the workers spend on doing each task and the number of breaks they take. However, it must be remembered that no organization or higher authority has the right to intimidate its employees by tracking their time. It’s both ethically and legally wrong. Time tracking tools should only be used for highlighting your employee’s progress and contribution to the work project to encourage them. 

Increased Efficiency

Time tracking comes a lot in handy when it’s time to bill your clients. By keeping track of the billable time of your work, you can bill your client accordingly. If your organization pays your employees at an hourly rate, a time tracking tool can be used to track the time. Time tracking also makes it easy for you to keep track of your money and budget. 

Increased Profitability 

Time tracking allows you to keep track of your working time accurately for accounting purposes, which is critical for the company’s profitability. It allows managers to get insight into which tasks take the most time and whether the time consumed equates to the profit generated. If the weekly logbook shows that technical work takes a long time, there may be room for growth. This helps save time, which translates into increased profitability for the company.

Conclusion 

Time tracking is an essential tool, especially in the time of work from home. By tracking your employee’s working time, you can increase your business revenue. 


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